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Explain Management accounting
Meaning & definition: Management accounting is comprises of two words, Management and accounting. It is the study of managerial aspect of the accounting. The emphasis of the Management accounting is to redesign accounting is such a way that it is helpful to the management in formation of policy, control of execution and appreciation of effectiveness. It is that accounting which helps management in carrying out its functions more efficiency.
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RELEVANT COSTS FOR NON-ROUTINE DECISIONS A relevant cost is a cost that is appropriate to a specific management decision. To be relevant, a cost should be: 1) Future cost
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